Specialty insurer Jewelers Mutual Group has purchased the assets of TransGuardian Inc., a high-value item shipping and logistics software company.
Terms of the transaction were not disclosed.
Jewelers Mutual partnered with TransGuardian in 2017 to develop its JM Shipping Solution, a jewelry shipping service.
“Jewelers Mutual is dedicated to providing value to our jewelers, and offering a shipping solution is another way to do so,” said Scott Murphy, president and CEO of Jewelers Mutual. “With this acquisition, we take a major step forward by combining an industry-leading solution with our talent and resources to create a holistic shipping solution for the entire industry.”
As part of Jewelers Mutual, the TransGuardian business and team, led by founder Jim and Madlene Moseley, will continue to serve enrollees of the JM Shipping Solution, as well as their current customer base.
All current TransGuardian employees have been invited to join the Neenah, Wisconsin-based insurer. TransGuardian’s customer service centers in New York City and Los Angeles will continue operations uninterrupted as part of the Jewelers Mutual Group.
TransGuardian’s software manages insured parcel shipping of collectibles, fine art, jewelry, gems, firearms, and other high-value and highly regulated items.
Jewelers Mutual provides insurance and loss-prevention services for jewelry businesses including retailers, wholesalers, manufacturers, custom designers and appraisers.
Topics Mergers & Acquisitions
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